February 15, 2024

Investment firm PRIMECAP Management boosts stake in Elanco Animal Health

Investment firm PRIMECAP Management recently expanded its stake in Elanco Animal Health Inc, a major player in the animal health sector, Yahoo! Finance reported.

On December 31, 2023, PRIMECAP Management executed a significant addition to its position, acquiring 1,431,665 shares of Elanco Animal Health. This transaction had a notable impact on PRIMECAP Management's portfolio, increasing it by 0.02%. The shares were purchased at US$14.90 each.

Following this trade, PRIMECAP Management now holds a total of 50,600,324 shares in Elanco Animal Health, representing a 0.64% position in the firm's portfolio and a 10.27% stake in the traded company.

PRIMECAP Management's equity portfolio, valued at US$125.95 billion, includes top holdings such as Amgen Inc, Biogen Inc, and Microsoft Corp, with a significant presence in the Technology and Healthcare sectors.

Elanco Animal Health Inc operates globally in the animal health industry, focusing on innovation, development, manufacturing, and marketing of products for both companion and food animals. With a presence in over 90 countries, Elanco's business spans Contract Manufacturing, Farm Animal, and Pet Health segments.

Despite being deemed modestly undervalued with a GF Value of US$22.20, Elanco's stock is currently trading at a price to GF Value ratio of 0.71. Since its IPO on September 20, 2018, the stock has seen a decline of 51.1%, yet it has experienced a year-to-date increase of 7.72%.

-      Yahoo! Finance